If you believe in the Stochastic we still have to go lower although todays high was $9.67above Friday's close.
Amazon was down $13.57 from last weeks close. The first down week since the Q-2 report. However if Cramer says to take profits it is probably an indicator that it will go up next week. The Stochastic is headed down so maybe Cramer is right. We will just have to wait and see. NFLX was also down this week and also has a Stochastic headed down.
Or at least Amazon should file for Nonprofit status with the IRS. Last year Amazon had a loss of $111,000,000 and paid income tax of $167,000,000. Over the past three years amazon had a profit of $939,000,000 and paid tax of $756,000,000. Does that make sense? It may be that Amazon reports income tax on a cash basis (not GAAP).
I wish I had paid attention to my post and bought back the puts I was short. I would have made a profit then but now a loss unless there is a last minute run up above $535.
Welcome aboard. I have been predicting a close near $542.50 all week. Nice to have someone to share the ridicule with me.
I think we will get a rally because those who control the AMZN closing price on Friday would be embarrassed if it closed this low.
Please accept my apology for the thumbs down. You were right. I still expect a close near $542.50 tomorrow but it will take a lot of buying by institutions to get it there.
You better get some because they are on special today. It may be a long time before you see these low prices again. See my post about unemployment.
Although it caused a $13 drop in the price of AMZN stock, investors are beginning to realize that people living on unemployment need to get all they can for there money and Amazon sells for less. Sales should increase and the price of AMZN stock should resume its' rise.
I guess you just don't get it. Amazon doesn't need to make a profit for the shareholders because they get their return by selling out of the money options every week.
It says more about the future of Bezos than it does about the future of AMZN. I presume you are aware that Bezos is also a major stockholder in NFLX. By selling 17 million shares of AMZN he was able to grab another high flyer.
Shorts are here every day and some make a nice profit. With a stock that fluctuates like Amazon, timing is the key to profit and you can make it in both directions.
The Amazon stockholders profit by selling options every week. They make millions so don't need to have Amazon make a profit. As for cloud computing, Amazon is number one and providing great service for their customers at a price the competition can't touch. By traditional methods of valuation AMZN would sell for around $20 but Amazon is not evaluated by traditional standards.